While the commercial market still faces its share of challenges, Realtors® specializing in commercial real estate expressed confidence in the marked improvement seen in the market over the last year at a commercial economic issues and trends forum at the REALTORS® Legislative Meetings & Trade Expo.
New Documents Include Residential Design-Build and Teaming Agreements
Atlanta – May 15, 2015 – (RealEstateRama) — After soliciting industry feedback and identifying growing contract needs, the American Institute of Architects (AIA) has developed four new contract documents to the industry standard, AIA Contract Documents portfolio. The release of these new documents coincides with the AIA’s National Convention in Atlanta and includes the following new documents:
o AIA Document A145™–2015, Standard Form of Agreement Between Owner and Design-Builder for a One or Two Family Residential Project
o AIA Document C102™–2015, Standard Form of Teaming Agreement between Team Manager and Team Member for the Purpose of Responding to a Solicitation and Pursuing a Project
o AIA Document G742™–2015, Application and Certificate for Payment for a Design-Build Project
o AIA Document G743™–2015, Continuation Sheet for a Design-Build Project
“In conjunction with the AIA Documents Committee, we’ve surveyed the state of the design and construction industry and listened to the needs of our customers,” said Kenneth Cobleigh, Managing Director & Counsel, AIA Contract Documents. “We’re confident that our new residential design-build agreement and design-build payment forms will help design-build practitioners work more efficiently and effectively, and we believe our new teaming agreement will help architects, contractors, and engineers optimize their proposal submission process.”
The new A145™–2015, Standard Form of Agreement Between Owner and Design-Builder for a One or Two Family Residential Project is a streamlined, homeowner-friendly document created to meet the needs of residential design-builders. Design-build is the fastest growing project delivery method in the United States, and residential projects make up an increasingly significant portion of this business. By assuming responsibility for both the design and construction elements of a residential project, firms see the possibility for increased revenue opportunities.
The new C102™–2015, Standard Form of Teaming Agreement between Team Manager and Team Member for the Purpose of Responding to a Solicitation and Pursuing a Project establishes the parties’ responsibilities in pursuing a project and requires them to negotiate project agreements up front. If the team is awarded a project, the team manager will contract directly with the owner, and the team members’ project agreements with the team manager will automatically take effect. Teaming is a powerful strategy for architects, contractors, and engineers, allowing them to put their collective expertise to best use and improve their chances of winning a job. C102™–2015 is not limited to use within a single project delivery method and can be used for responses to requests for proposals, design competitions, design-build competitions and public/private partnerships.
The new G742™–2015, Application and Certificate for Payment for a Design-Build Project and attendant G743™–2015, Continuation Sheet for a Design-Build Project are convenient forms on which the design-builder can apply for payment and the owner can certify the amount due. These forms round out the AIA’s commercial Design-Build Family of documents.
The new documents are available in the latest version of the AIA Contract Documents desktop software, and online through AIA Documents-on-Demand® Plus and AIA Documents-on-Demand®.
About The American Institute of Architects
Founded in 1857, the American Institute of Architects consistently works to create more valuable, healthy, secure, and sustainable buildings, neighborhoods, and communities. Through nearly 300 state and local chapters, the AIA advocates for public policies that promote economic vitality and public wellbeing. Members adhere to a code of ethics and conduct to ensure the highest professional standards. The AIA provides members with tools and resources to assist them in their careers and business as well as engaging civic and government leaders and the public to find solutions to pressing issues facing our communities, institutions, nation and world. Visit www.aia.org.
Contact: Matt Tinder